Denmark: Market for Fish Fillets and Other Fish Meat 2024

Market Size for Fish Fillets and Other Fish Meat in Denmark

In 2022, the Danish market for fish fillets and other fish meat decreased by -26.3% to $X for the first time since 2019, thus ending a two-year rising trend. Over the period under review, consumption showed a perceptible decrease. Consumption of peaked at $X in 2014; however, from 2015 to 2022, consumption stood at a somewhat lower figure.

Production of Fish Fillets and Other Fish Meat in Denmark

In value terms, production of fish fillets and other fish meat soared to $X in 2022 estimated in export price. Overall, the total production indicated a buoyant increase from 2012 to 2022: its value increased at an average annual rate of +7.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +41.0% against 2019 indices. The most prominent rate of growth was recorded in 2013 with an increase of 26%. Production of peaked in 2022 and is likely to continue growth in the near future.

Exports of Fish Fillets and Other Fish Meat

Exports from Denmark

Exports of fish fillets and other fish meat from Denmark contracted significantly to X tons in 2022, waning by -17.2% compared with 2021. Overall, total exports indicated a noticeable expansion from 2012 to 2022: its volume increased at an average annual rate of +2.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by -19.0% against 2020 indices. The growth pace was the most rapid in 2020 when exports increased by 38% against the previous year. As a result, the exports attained the peak of X tons. From 2021 to 2022, the growth of the exports of remained at a somewhat lower figure.

In value terms, exports of fish fillets and other fish meat reduced to $X in 2022. Over the period under review, exports, however, continue to indicate a remarkable increase. The pace of growth appeared the most rapid in 2020 when exports increased by 37% against the previous year. Over the period under review, the exports of attained the maximum at $X in 2021, and then reduced in the following year.

Exports by Country

Germany (X tons), France (X tons) and Italy (X tons) were the main destinations of exports of fish fillets and other fish meat from Denmark, together comprising 43% of total exports. Poland, the United States, Sweden, Norway, Spain, Israel, the Netherlands, Portugal, Belgium and the Czech Republic lagged somewhat behind, together accounting for a further 40%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the United States (with a CAGR of +108.5%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for fish fillets and other fish meat exported from Denmark were Germany ($X), France ($X) and Italy ($X), together accounting for 45% of total exports. The United States, Sweden, Israel, Poland, Spain, Portugal, the Netherlands, Belgium, the Czech Republic and Norway lagged somewhat behind, together accounting for a further 36%.

In terms of the main countries of destination, the United States, with a CAGR of +125.7%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average export price for fish fillets and other fish meat amounted to $X per ton, picking up by 13% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +3.7%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Norway ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the Czech Republic (+8.5%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Fish Fillets and Other Fish Meat

Imports into Denmark

After two years of growth, supplies from abroad of fish fillets and other fish meat decreased by -24.7% to X tons in 2022. Overall, imports saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 with an increase of 42% against the previous year. Imports peaked at X tons in 2021, and then declined sharply in the following year.

In value terms, imports of fish fillets and other fish meat contracted notably to $X in 2022. Over the period under review, total imports indicated a noticeable increase from 2012 to 2022: its value increased at an average annual rate of +3.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2020 with an increase of 67%. Imports peaked at $X in 2021, and then declined markedly in the following year.

Imports by Country

Poland (X tons), Norway (X tons) and Faroe Islands (X tons) were the main suppliers of imports of fish fillets and other fish meat to Denmark, together comprising 43% of total imports. The United States, Greenland, Germany, Lithuania, the Netherlands, Sweden, Iceland, Chile, China and Vietnam lagged somewhat behind, together comprising a further 47%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Iceland (with a CAGR of +14.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest fish fillets and other fish meat suppliers to Denmark were Faroe Islands ($X), Norway ($X) and Poland ($X), together comprising 52% of total imports. Greenland, the United States, Germany, Lithuania, Sweden, the Netherlands, Chile, China, Vietnam and Iceland lagged somewhat behind, together comprising a further 40%.

Lithuania, with a CAGR of +14.2%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average import price for fish fillets and other fish meat stood at $X per ton in 2022, rising by 2.5% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +4.0%. The most prominent rate of growth was recorded in 2020 when the average import price increased by 18% against the previous year. Over the period under review, average import prices reached the peak figure in 2022 and is expected to retain growth in the near future.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Faroe Islands ($X per ton), while the price for Iceland ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Sweden (+12.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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